If you have decided to launch a business, you have made a very courageous choice. There are many things you need to know before launching a new business. There is inventory to take into consideration, initial start-up cost and upkeep, hiring employees, sales, marketing…and the list goes on extensively.
Here are some top questions you need to ask yourself before launching your own business.
Are you launching this business for the right reasons? Sometimes an individual or a group of individuals will launch a business because they think it is expected of them or because it is a family tradition to do so. Other reasons are simply for the monetary benefits. With high hopes of making tons of money, sometimes a new entrepreneur may lose sight of his or her customer.
Once you examine your motives behind starting up a new business, go on to the next important question. Once you know what type of business you want to begin, ask yourself who your target audience is. Knowing that you want to create a business and knowing what that business is will simply not be enough. You need to know who your target audience is and who your ideal customer is.
Honing in on a target audience is something that you can delve into even deeper by creating a specific niche and then going on to create a sub-niche. In this manner, you will be certain that you have focused on a specific need for an even more specific customer.
Have you thoroughly researched your action plan? Setting goals and measuring them is essential when launching a new business. Put a plan into motion, but allow yourself flexibility to expand on that original plan. Ask yourself if your business plan is too narrow minded or if it will achieve the desired outcome you seek and go beyond even that.
Make sure you research if there is enough demand for the product or service you are offering or if you will be just another company offering the same old thing. Ask yourself if you can put a new innovative twist onto something tried and true.
Ask yourself how much time you are willing to dedicate to this business. What if this business is something that you will find success with right away? Are you willing and able to put the time and trouble in if it does become successful right away?
Also, think about whether or not this is a part-time business or a full-time endeavor. Do you have enough funds to last for six months to a year until your business becomes steady enough to stand on its own two feet?
Once you are able to answer these important questions, you can be well on your way to having a successful business endeavor.
One of the most important issues to address in your business life is identifying your target audience and ideal customer. Without honing in on a specific target audience, you run the risk of missing the mark. There are several easy steps to identify your target audience and ideal customer.
My favorite links for social media marketing/business launching tips:
Set Your Goals and Keep Your Goals
One of the best ways to identify your target audience is by setting goals for your business. Once you have set identifiable goals, your ideal customer will present him or herself.
Keeping true to those goals will ensure that your target audience and ideal customer will return time and again.
Measure Your Goals
Once you have established what your goals are, it is important to revisit those goals and measure them on a regular basis.
A great way to measure your goals to see if they are up-to-date is to utilize social media. Have your customers or clients take a survey or enter a contest to see whether or not your company is meeting and exceeding their needs.
Make sure to communicate with customers on social media. Respond to their comments, and communicate via Twitter. Another popular way to communicate with customers is by texting, sending a text to each customer can be very time consuming however there is software available that allows you to use group text messaging for business purposes enabling you to send a single text message to multiple customers at the same time. You will also want to see what the competition is doing and what trends are trending, various social media platforms can help you with this. Follow those trends.
Choose a Niche
Once you have set your goals and have established ways to measure those goals, make certain that you stick within your niche. Often times, business owners tend to waiver outside their niche. Sometimes creative ideas just seem to flow and flow; however, you must be true to your niche at all times. This is how you will be able to identify your target audience and your ideal customer.
Create a Sub-Niche
Once you have created a niche, see if you can break it down further and create a sub-niche. A niche would be something like divorced women and a sub-niche would be divorced women with small children. Perhaps your business is a life coaching business that empowers divorced women with smaller children to educate themselves so that they can provide for themselves and their families.
Once you start your new business, you will begin to notice who is responding and who is not responding. In this way, you can measure your target audience a little better and hone in on your ideal customer.
For example, you may notice that divorced women with older children may be in a better position to use your products and services as compared to divorced women with younger children. Your target audience may present itself a little bit differently than you had planned.
Stay flexible, keep an open mind, but once you have established your ideal customer, make certain to keep it there and dedicate all your time and effort to that target audience and its ideal customer.
Did you know that 90% of all new products fail?
The key is to find a need, and fill it. Good marketing will empower you to do that. Laying out a successful marketing plan will give you the tools to do that.
I personally recommend speaking to a good marketing agency, because they will be able to see your product or service from the outside, and create a plan for you to market yourself, so that you gain leads and sales, and your business flourishes.
This is a practice I swear by, and use on a regular basis. Why? Because I didn’t go to college for marketing. But if I hire someone who has, they can see my product from the outside, and give me guidance in a way I never thought of before.
For this reason, I recommend the family-run company NJ SEO, or SMR Digital, to help you with all of your marketing needs. This firm will help you with link building content, search advertising, and even help you build a custom website.
This company is a full service marketing agency, helping you from start to finish. Even if you just have questions about your site, or have a question about your ad copy, or even want someone to help you redesign your website, it’s pretty handy that you can have it all done in one place. I have a few reasons why I am recommending NJ SEO for your marketing needs.
For one, they are the number one marketing agency in New Jersey and they have case studies to prove that. On top of that, NJ SEO has many success stories and reviews, so you know that you are not just “being sold” on their services. Instead, they actually work. The last reason that I recommend them is because of the fact that they are a family-run company. Brothers, Matt and Dan Anton started NJ SEO, opening offices in New Jersey and Georgia.
Dan is a retired Infantry Airborne Army Ranger Major and Matt is the former marketing manager of Liberty Travel, which is a billion dollar travel agency. I try to choose small family-run businesses over larger companies whenever I can and I am glad I can do that with a marketing company!
Again, I’ve used marketing agents before and it is a big help, so NJ SEO is something to truly consider.